Bitcoin Falls Below $77,000 as AI Stock Selloff Triggers Over $1 Billion in Crypto Liquidations
Bitcoin dropped more than 4% on Thursday, trading below $77,000 as a sharp selloff in AI and semiconductor stocks spread into crypto markets. Sources differ on the size of liquidations, with estimates ranging from $574 million in the first hour to more than $1 billion over 24 hours.
Written by CoinArticle’s AI Newsroom · from 2 cited sources. How we work
Crypto Prices and Liquidations
Bitcoin traded near $76,400 at press time after falling more than 4% on Thursday, according to CoinMarketcap data cited by Crypto Briefing. CryptoSlate reported an intraday low of $75,568 and a recovery to $76,830.67 as of its press time. Ethereum fell more than 6% to around $2,270, Solana declined 5% to $90, and XRP dropped 4% to $1.25, while the total crypto market capitalization fell 4.6% to approximately $2.57 trillion.
The sources disagree on the scale of leveraged losses. Crypto Briefing, citing CoinGlass, reported more than $574 million in liquidations within one hour, including over $540 million in long positions, and more than $835 million over 24 hours. CryptoSlate, also citing CoinGlass, put 24-hour liquidations above $1 billion across more than 201,000 traders, with bullish positions accounting for $926.8 million, or nearly 89% of the total. The gap likely reflects different measurement windows and snapshot times rather than conflicting underlying data, and neither outlet specified a precise timestamp for its figures.
CryptoSlate's breakdown by asset showed Bitcoin at $264.2 million, Ethereum at $165.3 million and Solana at $33.5 million. Its heatmap also included equity-linked labels such as SOXL, SNDK and XYZ:MU, so those figures are a partial view and should not be summed into a market-wide total.
A Broader Equity Selloff
The crypto decline tracked a sharp reversal in US stocks. Crypto Briefing reported the S&P 500 falling more than 2.3% and the Nasdaq Composite losing about 3.5%. CryptoSlate reported steeper losses, with the Nasdaq Composite down 4.9% and in correction territory, more than 10% below its October record, the S&P 500 down 3.2%, and the Dow Jones Industrial Average shedding more than 1,100 points. These figures differ in magnitude, and the reports do not specify whether they measure the same closing session.
Semiconductor and AI-linked names led the declines. Crypto Briefing cited Nvidia down 6.5%, Micron down more than 12%, SanDisk down over 17%, and AMD down more than 13%. Crypto-linked equities also fell, including Strategy, the largest publicly traded corporate Bitcoin holder, down more than 11%, and Coinbase down about 10%. Bitcoin miners with AI data center exposure fell harder, with Cipher Digital down nearly 19% and IREN down 18%. CryptoSlate separately reported Nvidia falling below $200 for the first time since August.
Political and AI Spending Concerns
Both outlets tied the selloff to Tuesday's midterm elections, which gave Democrats control of both chambers of Congress. Crypto Briefing, citing Reuters, reported that investors fear restrictions on data center construction could slow AI infrastructure growth, and it cited UBS estimates that about 30% of expected US data center capacity additions in 2028 could be at risk from construction pauses. CryptoSlate cited Ballotpedia data showing 46 of 47 local data-center-related measures decided in 2026 favored tighter restrictions, though it noted some votes were advisory rather than binding.
The Kobeissi Letter, cited by CryptoSlate, attributed the speed of the decline to excessive leverage meeting an abrupt shift in sentiment rather than a deterioration in corporate fundamentals. Crypto Briefing also pointed to higher borrowing costs for data center financing and weak semiconductor earnings, including Qualcomm falling about 9% after its smartphone chip outlook disappointed.
Other Markets
Crypto Briefing reported gold up roughly 1% near $4,100, silver roughly flat near $52, and oil rebounding nearly 3% above $90 after a sharp prior-session drop on reports of possible progress toward peace with Iran. Neither source linked the commodity moves directly to the crypto selloff.
Why It Matters
For Traders
Bitcoin's close to $77,000 and heavy long liquidations mean near-term price action may stay volatile as leveraged positions unwind.
For Investors
Bitcoin's correlation with AI-linked equities is drawing scrutiny, suggesting crypto exposure may track tech risk sentiment more closely than its own fundamentals.
For Builders
Bitcoin miners pivoting to AI data center power are now trading with AI equities, so their risk profile and funding costs depend on political and infrastructure policy.
This article is for information only and is not financial advice. Read the full disclaimer.
